KKR announced that funds and accounts managed by its credit business have led the purchase of a $7.2 billion portfolio of super-prime recreational vehicle loans from BMO Bank National Association, part of BMO Financial Group.
KKR named Dan Pietrzak global head of private credit. KKR also announced that Michael Small will take on the additional responsibility of managing KKR’s direct lending efforts in Europe.
KKR, a global investment firm, closed KKR Asset-Based Finance Partners (ABFP), KKR’s first fund of approximately $2.1 billion dedicated to asset-based finance investments.
KKR appointed Giacomo Picco and Stephanie Yeh managing directors for the firm’s global private credit team based in New York. Picco will lead a new effort focused on receivables and inventory financing and Yeh will be responsible for co-leading sourcing of ABF investment opportunities in the U.S.
Credit funds and accounts managed by KKR agreed to provide a credit facility of up to $150 million to Jet Edge International, a provider of full-service private aviation that operates a fleet of managed Challenger and Gulfstream aircraft in the United States.
KKR appointed Jim Lees and Vaibhav Piplapure managing directors for its global private credit team to augment asset-based finance investing opportunities in the specialty lending and private asset-based finance markets.